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Oil well, that storm could stop the containment effort, for up to two weeks. right now, tropical storm alex is pounding mexico, and guatemala. jamie: former alaska governor sarah palin bringing her message to the lone star state, taking president obama to task. her fiery comments, you can t miss it, next. the administration is kind of. the government needs to take over more aspects of our private industry. scares the heck out of me! thanks to aarp, we can have more nights out. ....
jamie: have a good day. gregg: president obama pitching a $90 billion tax on america s biggest financial institutions. calling it necessary to recover every dime of taxpayer money spent on bank bailouts. malini wilkes is live in washington. what exactly is the additional tax supposed to do? reporter: well, gregg, this is a .15% tax on the liabilities of u.s. banks, thrifts and insurance companies and is something the administration proposed earlier this year and president obama has not given up on it. here s a little bit more from his weekly address. president barack obama: we also need to address another piece of unfinished business. we need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of of our financial crisis, so we can recover every dime of taxpayer money. reporter: recovering the taxpayer money, administration officials also said the tax will be used to help bring the ....
Also, and perhaps, more importantly, because karzai and other afghan leaders know that u.s. forces will begin leaving in july of 2011, and, there are, therefore, serious doubts about american will and commitment? i think that is right on target. i mean, i think the headlines this week have been about the, change of commanders, petraeus or general stanley mcchrystal but, honestly when you get down to it, it is the president s own strategy that is incoherent. and i think our allies in nato, who are increasingly saying they plan to get out, and, president karzai in afghanistan, who is pursuing policies that directly undercut the military approach that we are taking, see the at d are trying to cover their own post tearier. we need leadership in the white house, a demonstration of what its strategy is, how it will ....
Deficit down and politics also in play, tapping into continuing anger on wall street. gregg: what this is response from republicans, and this banking industry? reporter: as you might expect, some republicans criticized this bank tax idea, raising questions about whether it would really reduce risky behavior. at the time of the senate hearing last month, republican senator chuck grassley said in a statement, quote, fannie mae and freddie mac are not subject to the tax, and hedge funds are not subject to the president s proposed tax and meanwhile companies that did not take tax money are subjected to the proposed tax. also, as you might expect, wall street kufdoesn t like it sayint harms our competitiveness with other countries that don t have to pay similar taxes and regarding the separate larger financial overhaul bill, the democrats have to get that through congress and send it to the president before the july 4th recess, gregg. gregg: malini wilkes, live in washington, thanks. ....